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If the monthly salary of an employee is higher than 3 times local average monthly salary where the employer is located, the rate for the severance payment to be paid shall be 3 times local average monthly salary and shall be for no more than 12 years.
Losing your job can be one of the most difficult challenges you have to face in life, but negotiating a good severance package can help you get back on your feet.
A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
Along with the Redundancy Funds, since 1984 companies can apply also for Solidarity Contracts (Contratti di solidarietà): after a negotiation with the local trade unions, the company can establish contracts with reduced work time, in order to avoid dismissing redundancy workers. The state will grant to those workers the 60% of the lost part of ...
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Voluntary redundancy is when an employer asks an employee to agree to terminate their contract, in return for a financial incentive. Skip to main content. News. 24/7 help. For premium support ...
The Redundancy Payments Act 1965 (c. 62) was an act of the Parliament of the United Kingdom that introduced into UK labour law the principle that after a qualifying period of work, people would have a right to a severance payment in the event of their jobs becoming economically unnecessary to the employer. The functions of the redundancy ...
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